- Seritage Growth Properties stock has fallen 70% over the past 12 months as excessive hope has turned to excessive fear.
- Leasing activity has improved significantly beginning in late 2021, positioning Seritage to reduce cash burn over the next few quarters.
- The pace of asset sales has accelerated again this quarter, following a brief pause in early 2022.
- Seritage has plenty of options for reducing its debt in order to qualify for an extension of its term loan (which currently matures in July 2023).
- At its current price below $6, Seritage stock offers a big margin of safety for long-term investors.
For further details see:
Seritage Growth Properties: My New Top Pick As Share Price And Intrinsic Value Diverge